A revealing article on the headwinds facing the transition to #sustainable #green-energy.
From the article:
1. #Wind and #solar stocks are declining due to higher costs of raw materials and slow supply response.
2. #EV chargers and copper mining, critical for the energy transition, face demand uncertainties and reluctance in investment, and
3. Despite government subsidies, #renewable energy sectors struggle with high costs and interest rates, indicating a slower and more expensive transition than anticipated.
This is the problem with entrusting matters of such dire importance to #capitalism -- especially in an age of resource scarcity. As I say in my pinned toot:
**Capitalism is little more than an ideological hangover produced from a time long past when low hanging fruit was everywhere for the taking and people thought it would never disappear.**
That quote has deeper context than most suspect. I penned it years ago shortly out of law school after taking a Wildlife Law class from the, now deceased, Professor Dale Goble. He literally wrote the book on the #EndangeredSpecies Act. There he introduced me to the reason species have, historically, been driven to #extinction -- new technology + capitalist opportunism:
Gun powder killed the mega-predators. Whales? Spear gun. Passenger pigeon? Net guns. I could go on. But then we invented the petroleum economy, and in the opportunistic race for economic growth the decline has quickened by means of the collateral damage caused by #habitat degradation. Which, brings me to my point ---
The ideology that is capitalism was built around gluts. It cannot exist without low hanging fruit to fuel the #consumption #orgy necessary to get past the bottleneck of widespread consumer adoption. We are seeing the problem in stark outline today. Without #monopoly in the resource extraction sector, generating the necessary momentum to survive the capitalist "valley of death" is nearly impossible.
I conclude, there must first be an ideological transition away from the hangover that is capitalism, if we ever want to transition sustainable green-energy. **The fruit is gone, folks. If we ever want it back, capitalism won’t take us there**
#ClimateCrisis #climate #environment #ecosocialism #economy #SteadyStateEconomy
https://www.nakedcapitalism.com/2023/11/has-the-energy-transition-hit-a-wall.html